Appellate Court Dismisses Forfeited Funds Case Against Wells Fargo
The U.S. 8th Circuit Court of Appeals dismissed the Wells Fargo forfeited‑funds lawsuit without prejudice, allowing plaintiffs to amend their complaint. The decision marks the first appellate ruling on forfeiture disputes, a fast‑growing area with 48 cases filed in 2025. Meanwhile, FINRA’s 2026 conference highlighted that roughly 30% of investors rely on social media for investment ideas, and $1.1 billion of 2025 losses stemmed from related scams. Regulators and firms are grappling with how to balance engagement and compliance in the digital age.
Ascensus to Acquire AmericanTCS
Ascensus LLC announced it will acquire AmericanTCS Holdings, a provider of retirement, trust, custody and technology automation solutions, with the deal slated to close in the third quarter of 2026. The transaction expands Ascensus’ portfolio to include pooled employer plan...
Carlyle to Acquire Majority Stake in MAI Capital
The Carlyle Group announced it will acquire a majority stake in MAI Capital Management for a valuation exceeding $2.8 billion, with the transaction slated to close in the second quarter of 2026. MAI, which oversees more than $72 billion in assets and...
January, February Active Months for RIA M&A
MarshBerry reported 55 RIA M&A deals in January‑February 2026, an 8.3% decline from the record‑setting 2025 pace but 14.5% above 2024, indicating sustained deal flow. Private‑capital‑backed buyers accounted for roughly 69% of transactions, with Hightower Advisors, CAPTRUST and Mercer Advisors...
FINRA Had Fewer Cases, More Settlement Money in 2025
FINRA’s 2025 enforcement tally fell 22% to 431 disciplinary actions, yet total monetary sanctions surged 77% to $154 million, largely because of a $26 million penalty against Robinhood for supervisory and AML lapses. Excluding that case, fines would have been 15% lower...
Corebridge Financial, Equitable Holdings Merge Into $1.5T AUM, AUA Behemoth
Corebridge Financial and Equitable Holdings have signed an all‑stock merger creating a $22 billion entity that will operate under the Equitable name. The combined firm will manage roughly $1.5 trillion in assets, serve 12 million customers, and expect over $5 billion in operating earnings...
Human Interest to Provide Recordkeeping for UBS Financial Advisers
Human Interest announced that more than 5,000 UBS Group advisers will now use its automated record‑keeping platform for 401(k) and 403(b) plans. The service speeds rollovers and withdrawals to as little as one business day and links with over 500...
DOL Alternative Assets Rule Passes White House Review
The Department of Labor’s proposed fiduciary rule for alternative investments in defined‑contribution plans has cleared the Office of Information and Regulatory Affairs review and will soon be published for public comment. Adoption of private‑equity and other alternatives remains low—just 3.9%...
Employees Increasingly Prioritize Lower Health Care Premiums
A new Securian Financial study finds that nearly two‑thirds of U.S. employees now rank cost above all other factors when selecting health benefits, driving a surge toward lower‑premium, high‑deductible plans. While these choices shrink monthly payroll deductions, 22% of respondents...
T. Rowe Price Names New Head of Global Retirement Team
Jessica Sclafani has been appointed head of T. Rowe Price’s global retirement strategist team, succeeding Michael Davis who will retire on May 1. The transition coincides with an expanded leadership structure that adds Richard Parkin as head of U.K. retirement and Scott Keller overseeing Americas,...
Empower to Offer Trump Account Rollovers
Empower Annuity Insurance Co. announced it will act as the first rollover custodian for the newly authorized Trump Accounts (530A), child‑focused retirement accounts that launch on July 4 and receive a one‑time $1,000 Treasury deposit for eligible births between 2025‑2028. The...
House Committee Approves GOP Bill to Reduce ERISA Litigation
The House Education and Workforce Committee advanced the ERISA Litigation Reform Act on a 19‑13 party‑line vote, aiming to raise pleading standards for certain employee‑benefit plan lawsuits. The bill targets excessive‑fee claims, employee stock ownership plan suits, and proposes a...
Wilshire 5000 Index Sold After Provider Closes
Wilshire Associates is dismantling its index business after the provider closed, selling key benchmark families to VettaFi, Wilshire Advisors, and ISS STOXX. The Wilshire 5000 and other flagship series moved to Wilshire Advisors, while the UK arm entered administration, prompting layoffs....
AI Product & Service Launches – 3/16/2026
In March 2026, several financial firms unveiled AI‑driven products aimed at modernizing wealth management and retirement services. Transamerica introduced Pearl, a fee‑free virtual assistant that consolidates retirement accounts, while Manulife partnered with Akka to build an enterprise agentic AI platform...
SEC Enforcement Division Director Margaret Ryan Resigns
The SEC announced the immediate resignation of Enforcement Division Director Margaret Ryan, naming Principal Deputy Sam Waldon as acting director. Under Ryan, the division cut enforcement actions 27% and settlements 45% in fiscal 2025, shifting focus toward high‑impact fraud cases....